Genting Cuts Financial Support for Distressed Mashpee Wampanoag Tribe
Genting Malaysia is no longer providing financial support to the cash-strapped Mashpee Wampanoag tribe of Massachusetts, but it is backing a legal challenge against a US Department of the Interior decision that torpedoed the tribe’s long-cherished dreams of a casino.
Newly elected tribal member Aaron Tobey Jr. told the Cape Cod Times that the casino giant had “fulfilled its obligations” to the tribe and was now “helping out with the land-in-trust (issue).”
Genting had been keeping the tribe solvent in the hope that their proposed $1 billion casino resort in Taunton would come to fruition.
Things were looking good for the project until September last year when the DOI reversed an Obama-era decision to take land into trust for the tribe. This was after a group of residents, backed by rival casino developer Neil Bluhm, successfully challenged the original decision in the courts back in 2016.
Taking land into trust refers to the process by which the federal government takes non-tribal land by voluntary transfer and converts it into Indian land. This partially removes the land from the jurisdiction of the state, which makes casino gaming legally possible under the Indian Gaming Regulatory Act.
The DOI agreed with the courts that the previous administration had awarded the land incorrectly because it had bypassed a 2009 Supreme Court ruling known as the Calcieri Decision. This held in doubt the federal government’s ability grant land in trust for tribes recognized after Indian Reorganization Act of 1934.
$440 Million in the Hole
It was a devastating reversal of fortune for the Mashpee, which now owes Genting some $440 million — and meanwhile, tribal finances viewed by The Cape Cod Times last month suggest difficult times may lie ahead.
As of December 31, the tribe had just $83,670 in its general fund, having begun 2018 with $6.3 million, some $5.4 million of which had been provided by Genting.
Reporting its Q3 2018 accounts, Genting included the $440 million as an impairment charge, which suggests the company is it least prepared for the likelihood it will have to write it off, although it said at the time it was “exploring its options” with the tribe.
In January, the tribal council delivered a unanimous vote of no confidence in its tribal chairman, Cedric Cromwell, stripping him of his financial responsibilities to the tribe’s affairs and gaming authority.
All is not completely lost for Genting and the Mashpee. The DOI has said it will take no action with respect to the tribe’s land until a pending appeal against the 2016 court decision is decided.
Meanwhile, a group of Massachusetts Democrats have introduced a bill that would restore the land to the Mashpee by an act of Congress.
The post Genting Cuts Financial Support for Distressed Mashpee Wampanoag Tribe appeared first on Casino.org.
Casumo Welcome Offer – 100% match on your first deposit
Review: Is the Casumo Welcome Offer Worth Your Time? The online gambling world is a…
Up To £500 Casino Bonus at the New CasinoNation
[pokareview_bonusbox id="65433" layout="style1" score_style="percentage"] With a rebrand of name comes a New exciting and generous…
500 Free Spins Offer at New Casino – Touch Spins
Are you looking for a brand new casino site that offers up to 500 free…
Bet365 Casino Offer – Kingdoms Rise 1,000,000 Free Spins Giveaway
There's an exciting new promotion running at the Bet365 Casino which you don't want to…
Diwali Festival free spins and Bonuses at Royal Panda Casino
This October at Royal Panda Casino celebrate with Diwali Festival free spins, bonus offers and…
Playing 7 Card Blackjack: Here is how
Considering the current craze of online casino gaming, it seems like the trend of online…